February 22, 2013 / 10:58 AM / 5 years ago

MARKET EYE WEEKAHEAD-Indian stocks on hold ahead of budget

* Indian shares will be closely monitoring the 2013/14 budget
for the next fiscal year to be announced on Feb. 28.
* All eyes will be on how the finance minister will manage to
meet the government's 4.8 percent fiscal deficit target for
2013/14, while still trying to revive growth amid persistent
inflation, and with general elections expected next year.
* Whether India can deliver a credible fiscally disciplined
budget is too close to call, but economists polled by Reuters
say its resolve to cut spending and giveaways in next week's
budget will reignite investor confidence. 
* Traders say NSE's 50-stock index will be range-bound
at above 5,800 until the budget. 
    
KEY FACTORS/EVENTS TO WATCH
Tues: Railway budget to be presented in parliament at 0630 GMT
      Ranbaxy Laboratories October-December earnings 
Wed: Economic report to be presented in parliament at 0530 GMT
Thurs: Federal budget to be presented in parliament at 0530 GMT
       Oct-Dec quarter fiscal deficit data due around 1030 GMT  
                   
       Infrastructure output for January due at 0630 GMT
       Oct-Dec quarter GDP data due at 0530 GMT
Fri: Manufacturing PMI, Foreign exchange reserves data to be
released at 1130 GMT

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below